CFTC Sues Three States in the U.S., Reaffirms Exclusive Jurisdiction over Prediction Markets

BlockBeats News, April 3, the U.S. Commodity Futures Trading Commission (CFTC) filed lawsuits against the states of Arizona, Connecticut, and Illinois, reaffirming its exclusive jurisdiction over event contracts and prediction markets under the Commodity Exchange Act, alleging that the three states attempted to prohibit, limit, or regulate registered designated contract markets through other state-level regulatory measures, including platforms such as Kalshi and Polymarket. The CFTC requested that federal courts declare the state actions invalid and prohibit the states from interfering with prediction market activities that comply with federal regulations.